Income Tax nod in 2 days for charity firms for relief work in Nepal
PrintListen to this Article
"Charitable organisations under IT Act can render help to earthquake victims in Nepal. Applications to CBDT will be processed in two days," Revenue Secretary Shaktikanta Das said in a tweet.
Charitable orgnaisations need I-T Department's permission to spend money outside India for promoting international welfare.
It will be the endeavor of the Department to process these applications within two working days of receiving the completed applications, an official statement of Finance Ministry said.
The details of documents required to be submitted along with such applications have been uploaded on the website of Income Tax Department, it added.
India was the first to respond to the Nepal crisis and it immediately sent relief material.
The death toll in the devastating earthquake that rocked Nepal has climbed to over 4,350 today with more than 8,000 injured.
Crisis loomed over quake-hit Nepal with an acute shortage of food, water, electricity and medicines as fear of another quake kept tens of thousands of people out in the open.
Besides, India today pressed six more teams of National Disaster Response Force (NDRF) personnel into its relief and rescue operations in Nepal as the Himalayan country struggles to cope in the grim aftermath of the deadly earthquake which has left thousands dead and affected millions.
With this total number of NDRF team has gone up to 16. (Income Tax - PTI - Business Standard)
Category : Income Tax | Comments : 0 | Hits : 679
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
As many as 5,44,205 appeals were pending resolution with the Income Tax (IT) Department at commissioner (appeals) level as of January 31 this year, and 63,246 at various Income Tax Appellate Tribunals (ITATs), High Courts, and the Supreme Court, FE has learnt. To be precise, the cases pending in ITATs were 20,266 High Courts, 37,436; and Supreme Court 5,544. The large pendency is even as the Central Board of Direct Taxes (CBDT) has laid emphasis on disposing of income tax appeals in its 10...
The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards. The ITR functionalities i.e. ITR-1, ITR-2 and ITR-4, commonly used by taxpayers are available on the e-filing portal from 1st April, 2024 onwards for taxpayers to file their Returns. Companies will also be able to file their ITRs through ITR-6 from April 1 onwards. As ...
It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that the new regime under section 115BAC(1A) was introduced in the Finance Act 2023 which was as under as compared to the existing old regime (without exemptions): New Regime 115BAC (1A) introduced for FY 2023-24 Existing old Regime 0-3 lacs 0% 0-2.5 lacs 0% ...
Comments